What is the difference between absolute advantage and comparative advantage?

Answer and explanation:

Absolute Advantage is an individual, company, or country's ability to produce a good or service at a lower cost than any competitor. To offset its competitor costs and earn higher profits, an organization with an absolute advantage requires fewer inputs or more productive processes.

Comparative advantage is an individual, firm, or country's ability to produce a good or service at a lower opportunity cost than its competitor. Having a comparative advantage doesn't mean that one entity is absolutely better at producing that good or service than another. It means it sacrifices less.

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